IFCI — Ifci long term infrastructure bonds series iv | |||||
I am Moumita from Bangalore. I have taken the below bond years ago but havenot received the physical bond. I went to Karvy office with ID proof, etc but was of no help. I am in great trouble and I have also shifted my residence from the original address mentioned. Can you please help me how I can avail the Physical bonds.I would be grateful if you could kindly help me please. Was this information helpful? | |||||
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IFCI customer support has been notified about the posted complaint. | |||||
 2 Comments | |||||
Comments
I had sent my original bond on 18/11/2016 through fly king courrier and on track, the same has been delivered.But not yet no redemption amount is received.Certificate number is 02012445 and folio number is 2025427.
Reply
These guys at IFCI are fraud. Their standard response shall be as follows:
This has reference to your letter along with bond certificate with regard to the buyback of your investment made against the IFCI Long Term Infra Bonds Series IV.
In this regard, we wish to inform you that an intimation was sent to you on 31.08.2018 to surrender the original bond certificate(s) for buyback payment due on 15.02.2019, but we did not receive the same within timeline for our further action, since the last date for submission was 14.11.2018. We request you to refer Clause vide No. 6 on the reverse of the bond certificate specifying submission period. Moreover, in line with the said clause, submission of the bond certificate is required for record/reconciliation/mutual protection and to avoid any misuse considering the 10 year maturity of the bond and buyback happening at the mid of maturity period.
Since we did not receive the original bond certificate within the specified period, we were unable to consider for buyback and referred for next buyback / maturity payment.
Also note that, the bonds are already listed with Stock Exchange, where you can trade the bonds anytime till maturity date. Or if you retain the bonds till next buyback / maturity.
This has reference to your letter along with bond certificate with regard to the buyback of your investment made against the IFCI Long Term Infra Bonds Series IV.
In this regard, we wish to inform you that an intimation was sent to you on 31.08.2018 to surrender the original bond certificate(s) for buyback payment due on 15.02.2019, but we did not receive the same within timeline for our further action, since the last date for submission was 14.11.2018. We request you to refer Clause vide No. 6 on the reverse of the bond certificate specifying submission period. Moreover, in line with the said clause, submission of the bond certificate is required for record/reconciliation/mutual protection and to avoid any misuse considering the 10 year maturity of the bond and buyback happening at the mid of maturity period.
Since we did not receive the original bond certificate within the specified period, we were unable to consider for buyback and referred for next buyback / maturity payment.
Also note that, the bonds are already listed with Stock Exchange, where you can trade the bonds anytime till maturity date. Or if you retain the bonds till next buyback / maturity.
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